Apple Card now with a higher savings interest rate: here’s how to turn $1000 into $1045 for just a year!،
Enough of watching financial podcasts, YouTube pundits, and Wall Street expats: it's time to make some money! Of course, we can't give you any financial advice, but here's something you should know.
Apple is now attracting customers to its Apple Card project with a further increase in interest rates for savings accounts. Apple has informed Apple Card users that their money in the savings account now earns interest at 4.5%. This is the second increase in the same month (via 9to5Mac).
In December 2023, the savings rate was 4.25%. Then, in early January 2024, it jumped to 4.35% and now it's at 4.5%. For an account with no associated fees, these increases make the account significantly more competitive with the broader high-yield savings account market, the report notes.
For example, if one has $1,000 in savings on the Apple Card, with the new 4.5% interest rate, the money will grow to $1,045 after one year of holding it in the account. And – this is crucial – whether the interest rate remains the same for the moment.
Of course, in the financial world, nothing is permanent and monstrous fluctuations occur from time to time, causing budget failures for some and almost total annihilation for others.
The interest rate will increase or decrease depending on the actions of the Federal Reserve and the state of the economy as a whole, the report warns and reminds that Apple Card savings account users are free to move their money elsewhere, at any time, if they decide to do so. do it.
For several months, we have known that the partnership between Apple and Goldman Sachs is coming to an end. While a new partner is being sought for the Apple Card, the Cupertino giant is offering Apple Card users nice free subscriptions until the end of January 2025.
Apple Card members who are new subscribers to Apple TV+, Apple Music, Apple Arcade, Apple Fitness+ or Apple News+ receive 3 months free on each service. If you have already subscribed to one of these services, you are still eligible for the offer, but you will only get 2 months free.
